Chicago-based Choreo, LLC, a financial planning and investment advisory services firm, reports using SS&C Accord. This new service leverages artificial intelligence (A.I.) to help wealth managers aggregate and validate their customers’ alternative investment data. The SS&C Accord launch aligns with other A.I.-related and cutting-edge announcements at the SS&C Deliver 2024 Conference underway in New Orleans, Oct…. Read More >>
SEC Bolsters Security for the EDGAR Platform
In case you missed it, the Securities and Exchange Commission adopted “rule and form amendments” late last month that the SEC says will improve the security of its Electronic Data Gathering, Analysis, and Retrieval system, otherwise known as the venerable EDGAR platform. The improvements cover the access and management of filers’ accounts and have been… Read More >>
Deadline Looms for Non-Centrally Cleared Bilateral Repos
A regulatory rule for the collection of data for non-centrally cleared bilateral U.S. repurchase agreements (repos) has a compliance date — December 2 — that is less than three months away. In May, the Office of Financial Research (OFR) without much fanfare adopted a final rule to “improve transparency within the U.S. repurchase agreement (repo)… Read More >>
Meritsoft Targets Dividend Claims Management
A provider of post-trade process automation solutions, Meritsoft has launched an asset-servicing solution that automates coupon and dividend claims operations. The new offering leverages the company’s post-trade platform, which debuted in October 2023, officials say. The new solution automates “the traditionally manual process of matching corporate actions-related claims received through emailed PDF or CSV attachments… Read More >>
Is T+1 in North America a Partial Victory?
The Securities Industry and Financial Markets Association (SIFMA), Investment Company Institute (ICI), and the Depository Trust & Clearing Corp. (DTCC) released a report early last month declaring victory in the push for a shorter settlement cycle for markets in North America. However, the report fails to address some of the issues that have emerged over… Read More >>
Why Data Governance Matters
While data governance and data quality management concerns are definitely not sexy subjects, securities-trading firms can get into hot water if data-related matters are mismanaged. Take, for example, Citibank, N.A, and the $75 million penalty levied against it by the Office of the Comptroller of the Currency (OCC) and the related civil penalty of $60,625,620… Read More >>
SteelEye Uses A.I. to Streamline Alert Review Workflows
Trade surveillance provider SteelEye reports that it has made A.I.-based enhancements to Compliance CoPilot via large language models (LLMs) that provide analysis and actionable insights for compliance officers. The added decision-making capability is intended to target wrongdoers that “adopt increasingly sophisticated market manipulation tactics,” officials say. The enhanced Compliance CoPilot “enables analysts to prioritize high-risk… Read More >>
T+1 & International Corporate Actions Are at a Crossroads
A trio of European industry associations says agreement has yet to be reached in the approach firms might take to navigate the impact of T+1 on corporate actions processing for multi-listed and multi-traded securities. The Association for Financial Markets in Europe (AFME), The Federation of European Securities Exchanges (FESE), and the European Central Securities Depositories Association (ECSDA) recently wrote… Read More >>
Combining A.I. & Recs Spurred NeoXam’s Acquisition of EZOPS
Adding artificial intelligence (A.I.) to data reconciliation was a key driver behind NeoXam’s acquisition of EZOPS, an A.I. provider for data control, workflow automation, reconciliation, and regulatory reporting solutions. NeoXam is a provider of data management, performance, reporting, portfolio management, and investment accounting software. “Combining reconciliation with A.I. technologies was central to NeoXam’s acquisition of… Read More >>
Direxion Taps SS&C for ETF & Mutual Fund Distribution
A provider of tradeable and thematic ETFs, Direxion will be using the services of SS&C ALPS Distributors, which will act as the underwriter and distributor for issuance, redemption and distribution of exchange-traded funds (ETFs) and mutual funds, officials say. SS&C ALPS, which is owned by SS&C Technologies, will help Direxion manage more than $40 billion… Read More >>
